Loan Protection Insurance
Credit Union loans include free insurance, so that in the event of death, the members loan is cleared. Loan Protection Insurance applies to members up to the age of 85.
Life Savings Insurance
Fintona Credit Union provide free Life Savings Insurance for eligible members. The amount payable is age dependent (see table below).
|£100 saved under||55||£100||£200|
|£100 saved between||55 – 59||£75||£175|
|£100 saved between||60 – 64||£50||£150|
|£100 saved between||65 – 70||£25||£125|
Eligibility: Eligible Savings are lodged before the age of 70 up to a maximum of £15, 000 and remain intact in the member’s account.
Death Benefit Insurance
Fintona Credit Union offers Death Benefit Insurance to eligible members for an annual fee (details of annual fee are available on request). The fee is deducted automatically from the member’s account. In the event of that member’s death, their next of kin will receive the relevant payment which will help defray funeral expenses. As the Death Benefit Insurance scheme is not compulsory, any member not wishing to avail of it can ‘opt out’ by completing the necessary form and returning it to the Credit Union office. Please note that it is up to the member to ensure they are covered.